LTV means with respect to any Mortgage Loan, the ratio of the original outstanding principal amount of the Mortgage Loan to the lesser of (a) the Appraised Value of the Mortgaged Property at origination or (b) if the Mortgaged Property was purchased within 12 months of the origination of the Mortgage Loan, the purchase price of the Mortgaged Property.

LTV. With respect to any first lien Mortgage Loan and as of any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of the related Mortgage Loan at such date and the denominator of which is the Value of the related Mortgaged Property. With respect to any second lien Mortgage Loan and as of any date of determination, the fraction, expressed as a percentage, the numerator of which is the sum of (a) the principal balance of the related Mortgage Loan at the date of origination plus (b) the principal balance of the related First Lien at the date of origination of such mortgage loan and the denominator of which is the Value of the related Mortgaged Property.

Examples of LTV in a sentence

If the Updated LTV exceeds the Base LTV, the Bank will only release the Property to be Sold if the Borrower pays down the Then Current Balance to a level that reduces the Updated LTV to the Base LTV.
Auto Loan Lowest rates advertised are based on an established member’s loan with a term of 60 months or less and LTV of 90% or less.
Maintain a Capacity during the term of the Agreement of a minimum of 2.22 (two point twenty-two) times based on a maximum LTV of 45% (forty-five percent) from the Start Date of the Stable Phase the delivery of the first Appraisal, which will take place 90 (ninety) calendar days after the start of operations.
The Borrower shall not make (i) any Restricted Junior Payment, except (A) as expressly permitted under Section 2.08 and (B) so long as no Event of Default has occurred or would result therefrom and pro forma LTV is equal to or less than 60%, or (ii) distributions of Portfolio Assets except as expressly contemplated under Section 2.10.
Used motorcycle and sports vehicle LTV based on Xxxxxx Blue Book retail.

More Definitions of LTV

LTV. With respect to any Mortgage Loan, as of any date on which a determination thereof is made, the ratio on such date of the outstanding principal balance of such Mortgage Loan to the Appraisal Value of the related Mortgaged Property.

LTV. With respect to any Mortgage Loan, the original principal balance of such Mortgage Loan divided by the lesser of the Appraised Value of the related Mortgaged Property or the purchase price. The Loan-to-Value Ratio of any Pledged Asset Mortgage Loan shall be calculated by reducing the principal balance of such Pledged Asset Mortgage Loan by the amount of the Original Pledged Asset Requirement with respect to such Mortgage Loan. This is referred to in the PHH Guide as the effective loan-to-value ratio.

LTV means, with respect to any Receivable, the ratio, at the time of origination, of (i) the amount financed of such Receivable to (ii) the wholesale book value of the related Financed Vehicle as set forth in the Kxxxx Blue Book®, the NADA Official Used Car Guide® or the Black Book Wholesale Average Condition.